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Persistent link: https://www.econbiz.de/10011972343
simultaneously largest developing economy and largest emerging debt market, China. Utilizing a most comprehensive sample of Chinese …
Persistent link: https://www.econbiz.de/10012847701
We document a strong low-price effect for Chinese initial public offerings (IPOs). Namely, IPOs with low offer prices have higher initial returns, followed by even stronger after-market performance. This low-price effect cannot be fully explained by risks and IPO undervaluation. A long-only...
Persistent link: https://www.econbiz.de/10012923616
We examine various aspects of the IPO market in China—the policy history, IPO pricing, bids and allocation, and … aftermarket trading under two lenses: IPO theories and the unique regulatory environment in China. We show that heavy …
Persistent link: https://www.econbiz.de/10012824565
markets? Based on a sample consisting of a total of 102 firms that have been quoted on China's New Third Board from 2006 to … for interim liquidity, the NEEQ does serve as a useful platform to achieve the purpose, and thus fills a gap in China's VC …
Persistent link: https://www.econbiz.de/10012971704
In this paper, we empirically examine how government forces vis-à-vis market forces have affected the market share of investment banks in Chinese domestic IPOs over the period 1995–2010. Before 2005, only political connections significantly positively influenced the market share of investment...
Persistent link: https://www.econbiz.de/10013012207
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We examine the effects of venture capitalist participation in IPOs in China and find that VC-backed firms are more … with the monitoring role of the VC. Finally, the fact that VC reputation is associated with lower underpricing is …
Persistent link: https://www.econbiz.de/10012957114
Adopting a sample of the initial 243 IPOs from the emerging Growth Enterprise Market of China (GEMC) over the 2009 to …
Persistent link: https://www.econbiz.de/10013045469
in the People's Republic of China (PRC) after an initial public offering (IPO). Firm-level panel data analysis shows that …
Persistent link: https://www.econbiz.de/10012995333